Question 4 (15 points) A person is facing financial hardship and needs to come up with $2,500 immediately to pay for necessary expenses. Unfortunately, this person has no emergency savings and bad credit history (in short, bad with money). To go through this challenge, a subprime loan is obtained according to the following contract terms: 1. Borrow $500 for only $5 per week. 2. Can borrow multiples of $500. 3. At the end of the week, pay back $505 for each $500 borrowed. 4. If the $505 is not paid, then this amount becomes new debt and a new weekly cycle starts over with the debt now being $505. 5. Each new weekly cycle will add an interest of 1.0% per week. 6. This "rolling debt" mechanism described in articles 4 and 5 can be repeated infinitely. This person borrowed $2,500 according to the previous terms. [a] How much should be paid back if the loan is repaid after 10 week? [b] What is the effective annual interest rate on this loan